Install package

The Hanoi Times - After a long time of tightening consumer credit, some commercial banks have restarted the loaning to fund car purchases on installment plans, which is believed to help warm up the car market.
ANZ has announced it has resumed the credit package on funding car purchase on installment plans, which allows clients to borrow 75% of car values at maximum. The applications by clients for borrowing money will be checked and approved within 48 hours. However, the credit is applied only to the clients who purchase brand new cars.
Prior to that, An Binh Bank had also resumed the loaning to fund car purchases on installment. Clients can borrow at least 70% of the car value for 2-3 years.
The bank said that in order to be eligible to get loans from the bank, clients must have real estate, a savings book, or valuable papers worth over VND 100 million. The loaning is applied to the clients, who purchase brand new cars with less than eight seats.
Other banks have not mentioned the … [Read more...] about Banks resume funding car purchases on installment plan

Region backs cheap tourism packages (09-01-2009)
The meeting of the ASEAN + 3 Tourism Ministers takes place in Ha Noi.— VNA/VNS Photo Anh Tuan
HA NOI — ASEAN tourism representatives have agreed to set up package tours with competitive prices to stimulate tourism in regional markets this year. That was the message at the 12th ASEAN Tourism Ministers meeting held yesterday in the capital. Statistics revealed at the meeting showed that the total number of international arrivals to ASEAN countries reached 54 million in 2008, 7 per cent higher than the previous year, despite the global financial crisis. However, 2009 is expected to be full of difficulties for tour operators and travel agencies in the region. Representatives said the industry needed to target regional tourists and main markets, including Europe and Australia. "When price hikes force people to tighten their budget, travelling to neighbouring countries, even in their own countries, has to be the best … [Read more...] about Region backs cheap tourism packages

New stimulus package focuses on agriculture, rural areas (23-04-2009) Cao Sy Kiem, from the National Committee for Financial and Monetary Consultancy, talked to Tuoi Tre (Youth) newspaper about the US$9 billion, second stimulus package, much of it earmarked for agriculture and rural areas. How will the package be used? (The first package of $1 billion was used to promote production,boost exports and foster investment and consumer spending). During the economic crisis, farmers and people living in rural areas have suffered the most. Many have lost their export markets and don't have enough capital to continue farming. Many rural factory workers have also been retrenched as exports fall. Thus, the stimulus package in rural areas will try and deal with creating employment, boost income by raising productivity - and thus creating purchasing power. To be more specific, the stimulus will focus on investing in infrastructure for farming by building 2,000 more pumping stations, irrigation … [Read more...] about New stimulus package focuses on agriculture, rural areas

A US$1.42-billion cheap loan package the central bank unveiled two months ago for housing developers and low-income people and public workers has not helped reduce the housing inventory by much, with the program mired in red tape, according to reports.
A recent study by Ho Chi Minh City-based securities firm Maybank Kim Eng found that only a small number of projects, most of them yet to get underway, have managed to register for the package by promising to switch from commercial to low-cost mode.
The package is targeted at builders and buyers of houses measuring up to 70 square meters and costing no more than VND15 million ($713) per square meter.
More than 16,000 apartments remain unsold, with tens of thousands of others having been stalled, the study found, estimating it would take four to five years for them to be sold unless demand picks up.
Tuoi Tre newspaper said many buyers and builders failed to get the loans due to the paperwork involved.
A married couple in HCMC working … [Read more...] about Vietnam housing loan package unused, redtape blamed

VietNamNet Bridge - The VND30-trillion credit package aimed at helping homebuyers and property developers was launched last Saturday. While many realty developers praise the move as positive to stir up the long-frozen market, others did not expect it to solve the problems of the property market.
Little motivation
Trinh Van Quyet, chairman of FLC Group, said the credit package had a positive impact on the property market, easing the financial burden on those in need of housing and providing realty firms with a motivation to return to the market.
"This preferential package will change the home buying habits of Vietnamese people. In the past, they only purchased homes after saving enough money or borrowing from acquaintances, but now they can take out bank loans at low interest rates with a long term to pay installments for homes," he said.
Sharing this view, Nguyen Hoang Nam, director of the property trading floor INFO under Ocean Group, said the VND30-trillion package would create a … [Read more...] about Credit package brings positive impact, but yet a big help